The company reported standalone net loss during the quarter stood at Rs 1.23 crore as compared to net loss of Rs 2.50 crore in the previous year quarter.

Net revenue of the company declined substantially by 90.75 per cent at Rs 1.41 crore in April-June quarter of this fiscal as against Rs 15.25 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 86.88 per cent to Rs 1.96 crore from Rs 14.94 crore in year ago period.

Operating Profit slipped by 264.71 per cent to Rs -0.56 crore as against Rs 0.34 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1862.05 per cent in June quarter.